$4,000 Car Loan

What's the monthly payment on a $4,000 car?
$
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%
Monthly payment = $73
Total yearly payments = $871
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $69
3.0% $71
4.0% $72
5.0% $74
6.0% $75
7.0% $77
8.0% $78
9.0% $80
10.0% $81
Payments by Amount Down
Down Monthly Payment
$0 $91
$200 $86
$400 $82
$800 $73
$1,200 $64
$2,000 $45
Payments by Loan Length
Length Payment
24 months $139
36 months $95
48 months $73
60 months $59
72 months $50
84 months $44

Can I afford a $4,000 car?

Is your salary enough to buy a $4,000 vehicle? A general rule of thumb for buying a car or truck is the 20 / 4 / 10 rule.

  • Make a down payment of at least 20% cash. For a $4,000 vehicle, this would mean saving up $800.
  • Pay back the loan in 4 years or less.
  • Don't spend more than 10% of your income on payments and insurance. Rough estimate: your annual income should be at least 2.5 times the purchase price. So to afford a car that costs $4,000, you would need to make at least $10,000 per year.